Author: Steffen Meyer, Mobile Marketing Content Specialist
Marketers handle lots and lots of data – and often it’s too much.
That is why experienced marketing companies rely on so-called data hubs that collect the data from all the different sources and put them in one place. We at Customlytics cooperate with the data hub providers funnel.io and Clarisights and many more.
Think of a data hub as a digital brain: It collects and processes information from various sources – social media accounts, website tracking tools, ad networks, CRMs and more –, analyzes patterns and trends, and generates insights that fuel intelligent decision-making.
There are many reasons to employ data hubs. Here are 5 of them:
1. Piecing Together the Puzzle: Data Integration
By amalgamating data from different sources, you can unlock valuable insights and gain a holistic understanding of marketing effectiveness. Imagine running a social ad campaign that prompts users to click on a link to a landing page. Integrating these two data sources lets you better understand how a prospect that clicks on a link further proceeds on your website. This way, you get a better grasp of the whole customer journey and can optimize it. Our free Marketing Master Map will definitely help you here.
2. Accuracy and consistency: Single Source of Truth
Different marketing tools have different ways of presenting data. This can make it difficult to look for patterns in customer behavior. Since a data hub compiles all data into one single data repository, this makes it easier for you to look at the data in one certain time frame, without having to switch back and forth from one tool to another, minimizing the chance for errors.
3. Sharing is caring: Breaking Data Silos
Every team in a company employs their own tools – and more often than enough sit on masses of data that are not accessible by their coworkers. This is bad news because the sales team or the customer support team may have valuable data that the marketing would like to see. With a data hub, these isolated databases are integrated into one central repository, unlocking the full potential of all the data of the company.
4. Centered, not scattered: Less point-to-point connections
With a data hub, you don’t need to send presentations or excel sheets from one department to another to share data. Instead, everyone can simply access the same tool to get the insights they want. When a company grows, onboarding new employers and spawning new teams, you can immediately connect them to the data hub. This allows them to share their data from day one and to obtain insights from other departments, improving scalability of the whole company.
5. One tool to rule them all: Better Data Governance
Having different tools means having an abundance of accounts with varying permissions and – more often than not – no clear oversight over who is allowed to do what. When storing all your data with one tool, this user management gets way easier. Furthermore, it allows the company to establish and enforce consistent data governance policies and standards across the organization.
Maintenance is key
Depending on the provider, a data hub may offer various features, such as helping you to cleanse data, allowing real-time reporting or segmenting your users. Having all the data in one place will give you a huge boost in marketing efficiency – as long as you constantly maintain it.
Setting up a data hub once and then have noone responsible to constantly update it, can lead to serious negative effects: When you don’t add new data sources or let outdated information widely circulate, employers can take wrong decisions due to a lack of qualitative data.
As you can see, employing a data hub can be a true game-changer but only if it’s done the right way. Have a chat with our consultants to avoid any mistakes that could eventually harm your revenue.
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